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Thread: Fair Home Rental Increase

  1. #31
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    Place I'm renting at goes up by 10% each year, wish I had my own place

    Guess I need to become a Rent-Boy to help me fund my own place, but I think the clientele that will come knocking wouldn't be so favorable
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  2. #32
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    It seems strange for rent to go up that steeply, but I suppose that is the norm in the bigger cities such as Cape Town and Jhb? A few years ago the norm here in Bloem was jsut to up the rent by 8-10%, but this has changed the last 2 years in a row now. I am handling the renting of a property for my mom and I know we raised the rent only by 5% this year as per consultation with an agent and the fact that the place has been rented out to the same person for several years now. I would suspect that rent costs would rise in parallel with the actual price of the property?

  3. #33
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    I'm so over property, actually selling everything at the moment. We've had good rentals and shocking rentals and it's a complete lottery.

    As for increases we've always tried to keep it around inflation and if the tenant is good we've tried to make it attractive so they stay because one bad tenant can wreck the whole model. This year we would have made more simply putting the money into a money market account and would have had zero issues or time consumed. So yeah we're done with that. Not to mention the laws favoring tenants and what is quite an unstable situation at the moment.

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  5. #34
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    Quote Originally Posted by MarioAna View Post
    I'm so over property, actually selling everything at the moment. We've had good rentals and shocking rentals and it's a complete lottery.

    As for increases we've always tried to keep it around inflation and if the tenant is good we've tried to make it attractive so they stay because one bad tenant can wreck the whole model. This year we would have made more simply putting the money into a money market account and would have had zero issues or time consumed. So yeah we're done with that. Not to mention the laws favoring tenants and what is quite an unstable situation at the moment.
    Yup I don't see myself entering into that game short of an AirBNB holiday home type option down the line maybe.

    All my Property related stuff it in ETF's...not actual property.

    Don't you get a huge tax write off though?
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  6. #35
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    Quote Originally Posted by PsyChoPanthis View Post
    100%

    As a Landlord you can do as you please with your property and at the end of the day, if what you want is not feasible for the Tenant, the Tenant goes elsewhere.

    Edit: Where the tricky bit come in, is when the Landlord pushes for more than the "worth" of the property. I've seen a lot of places online that are priced incorrectly for what they are, and in one case, a flat I went to look at that I would value, rent wise, around the R6-7k mark with water inclusive at a stretch, was going for 9k excluding water. 8 months after I had moved into my current flat that same one was still on offer at R7.5k excluding water. And as far as I know they ended up getting someone in at R7.5 with water. I fully understand people wanting the most out of their investments and property, but a lot of people go flat out greedy and end up screwing themselves.
    Unfortunately that does happen quite a bit. Fully agree, hence the sit down between tenant and landlord are important. If you can show your tenant here is why the increase is this much everything should be fine.

    I think a majority of problem comes from the lack of communication. I think if a tenant can't discus rates with a landlord or visa versa it's time to end that relationship and move on.

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